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Franklin Templeton India contemplates paying distributor commissions in shut schemes

FT India has been contemplating paying to distributors which is an amount that aggregates to about Rs 80-100 crore, sources told CNBC-TV18. However, in a wound up scheme there should ideally be no scope for distributor commission because the money in these schemes is lying there involuntarily.

By Sumaira Abidi Apr 1, 2021 4:00:14 PM IST (Published)

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FT India has been contemplating paying to distributors which is an amount that aggregates to about Rs 80-100 crore, sources told CNBC-TV18. However, in a wound up scheme there should ideally be no scope for distributor commission because the money in these schemes is lying there involuntarily.

The 6 wound up schemes of Franklin Templeton (FT) India have been calculating the NAV for direct and regular plans separately. But the sore point emerging is what happens to the commission to be paid to the distributors in the regular plan.

Franklin Templeton India had been accruing the distributors commission in the regular plan from April 24 2020, which is the day after the schemes were wound down, to March 18 2021, which is the date of the last Supreme Court order.

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